New key findings from the 2024 report on global workforce readiness and the impact of digitalization
LHH, a provider of integrated talent solutions and part of the Adecco Group, has released the findings from the fourth annual Global Workforce of the Future Report 2024.
This study surveyed 30,000 workers across 23 countries and 25 industries, ranging from entry-level positions to senior executives.
The 2024 report focuses on assessing global workforce readiness for digitalization, capturing worker sentiments concerning job security, and providing insights for the future, including strategies to activate the passive talent pool.
Gaëlle de la Fosse, President of LHH, noted, “With the profound shifts reshaping the global workforce, the importance of leadership, skills training, and opportunities for internal mobility cannot be overstated.”
“Our latest Global Workforce of the Future Report shows that employee satisfaction and retention is closely related to how a company builds a culture that fosters career growth and invests in skills development,” he continued.
Key findings from the report reveal a workforce eager for skill enhancement amidst global uncertainties, influencing many to remain in their current roles longer than anticipated.
Despite this, 52 percent of workers attribute external factors and 51 percent cite a “fear of the unknown” as major barriers to their professional advancement.
Additionally, economic climate, age, and limited industry opportunities are seen as significant hurdles by 23 percent, 22 percent, and 20 percent of workers, respectively. Consequently, about 73 percent of workers plan to stay in their current jobs through 2024.
The report highlights the growing necessity for investment in workforce development, particularly as 86 percent of workers express confidence in finding new jobs within six months—a notable increase from 61 percent in 2022.
This optimism is further supported by 65 percent of workers who view digitalization as having a positive impact on their jobs, up from 37 percent in 2022.
The study also identifies a large “passive talent” pool, individuals who are hesitant to change jobs despite desiring new skills and opportunities. To engage this group, the report suggests that companies should offer clear career guidance and purpose.
Nearly half of the workers (46 percent) want to change careers but are unsure of the direction, highlighting a critical need for companies to focus on learning and development opportunities accessible to a multigenerational workforce.
Moreover, 64 percent of employees believe companies should prioritize internal training before hiring externally, and 50 percent view it as the employer's responsibility to prepare them for new workplace realities.
